Making BTC payments with Payfast

[SaiyanZ]

So I tried to purchase something earlier today and saw Bitcoin as a option for payment via Payfast. Only issue was that they needed confirmation in 10 minutes and Bitmex only does withdrawals once a day at 13:00 UTC. So I ended up just paying in cash.

How do people get around this when making payments? Do you just have your own wallet and pay from there?

Also for confirmation, I assume it's just the hashtag? Do I need to sign up with Blockchain.com or Blockchain.info to get this?

 

[saor]

How do people get around this when making payments? Do you just have your own wallet and pay from there?

Your own private wallet or an exchange that processes withdraws right away. Not quite sure what you're asking (/ it's a bit odd seeing you ask this).

 

[SaiyanZ]

Your own private wallet or an exchange that processes withdraws right away. Not quite sure what you're asking?

Never made a payment with BTC (just made transfers between exchanges) so I'm curious about the process and how the seller knows that I've paid. If I made the transfer to the wallet address below, how does the seller know it was me. Also what would happen if the transaction took longer than 10 minutes to confirm? Payment window is as below:

 

[phly]

So I tried to purchase something earlier today and saw Bitcoin as a option for payment via Payfast. Only issue was that they needed confirmation in 10 minutes and Bitmex only does withdrawals once a day at 13:00 UTC. So I ended up just paying in cash.

How do people get around this when making payments? Do you just have your own wallet and pay from there?

Also for confirmation, I assume it's just the hashtag? Do I need to sign up with Blockchain.com or Blockchain.info to get this?

I highly doubt you can pay from mex on online goods - what you need is a bitcoin wallet - you could also try with Luno as they dont have the one time withdrawal restriction. Confirmation could be through the tx id if one exists which it should. But I am just thinking out aloud. Haven't tried it myself but yea a bitcoin wallet is your best bet.

 

[saor]

Never made a payment with BTC (just made transfers between exchanges) so I'm curious about the process and how the seller knows that I've paid. If I made the transfer to the wallet address below, how does the seller know it was me. Payment window is as below:

Automated systems usually generate unique addresses for each payment, so you're the only one paying to that wallet. For peer2peer stuff you usually send them your address & the txid after you've paid.

 

[SaiyanZ]

Automated systems usually generate unique addresses for each payment, so you're the only one paying to that wallet. For peer2peer stuff you usually send them your address & the txid after you've paid.

Ah makes sense, thanks. What would happen if the confirmation took longer than 10 minutes? So the payment goes through, but much later.

I'm guessing that would not be possible as the address is unique and would only last 10 minutes?

 

[netcruiser]

So I tried to purchase something earlier today and saw Bitcoin as a option for payment via Payfast. Only issue was that they needed confirmation in 10 minutes and Bitmex only does withdrawals once a day at 13:00 UTC. So I ended up just paying in cash.

How do people get around this when making payments? Do you just have your own wallet and pay from there?

Also for confirmation, I assume it's just the hashtag? Do I need to sign up with Blockchain.com or Blockchain.info to get this?

If you disabled "Replace-By-Fee" when sending, PayFast will accept it within 30 seconds and you won't have to wait for any confirmations. Just make sure you add enough fees for the transaction to make it into the next block.